Amy4

Trader
Mar 15, 2023
30
6
19
29
A friend of mine asked me for copy trading, what is your idea?
I know that one issue is the risk of blindly copying other traders without fully understanding their trading strategy or risk management approach. Even experienced traders can experience losses, and copying their trades can lead to significant losses for the follower. Additionally, some traders may manipulate their trades or performance records to appear more successful than they actually are, which can lead to poor investment decisions for followers.
 

Glossy

Trader
Aug 2, 2021
63
11
24
34
Poland
I do not recommend the use of copytrading for beginners.
Such an experience can have a negative impact on the trader.
 

thomas_novak

Banned
May 1, 2023
44
11
9
23
Copy trading can be a tempting option for those looking to get into trading without fully understanding the markets or strategies involved. However, as you mentioned, there are risks involved with blindly copying other traders. It's important to thoroughly research and understand the trader's strategy and risk management approach before copying their trades.

Additionally, it's important to recognize that even experienced traders can experience losses, and past performance is not always indicative of future results. Followers should carefully monitor their accounts and be prepared to cut their losses if necessary.

Overall, copy trading can be a useful tool for those looking to learn from others, but it's important to approach it with caution and a thorough understanding of the risks involved.
 

Chadpowell

Trader
Apr 8, 2023
71
20
14
New York
A friend of mine asked me for copy trading, what is your idea?
I know that one issue is the risk of blindly copying other traders without fully understanding their trading strategy or risk management approach. Even experienced traders can experience losses, and copying their trades can lead to significant losses for the follower. Additionally, some traders may manipulate their trades or performance records to appear more successful than they actually are, which can lead to poor investment decisions for followers.
Copy trading can be a pretty cool way for new traders to learn from the pros and hopefully make some money too. But you gotta be careful and do your own research before blindly copying someone's trades.
Also it is a temporary way to make profits, its better to learn it by yourself!
 

Ara

Trader
Apr 24, 2023
112
19
19
34
A friend of mine asked me for copy trading, what is your idea?
I know that one issue is the risk of blindly copying other traders without fully understanding their trading strategy or risk management approach. Even experienced traders can experience losses, and copying their trades can lead to significant losses for the follower. Additionally, some traders may manipulate their trades or performance records to appear more successful than they actually are, which can lead to poor investment decisions for followers.
This can be a useful way for less experienced traders to learn about the markets and potentially earn profits without having to spend time and effort conducting their own analysis and trades.
 

Oli_jackson

Trader
Mar 27, 2023
92
11
19
45
I, for one, am not a supporter of copy trading. because relying just on copy trading will prevent you from developing good trading abilities and expertise. You might be able to utilize it to learn, but at some point you need let go and focus on your own abilities.
 

Ara

Trader
Apr 24, 2023
112
19
19
34
I, for one, am not a supporter of copy trading. because relying just on copy trading will prevent you from developing good trading abilities and expertise. You might be able to utilize it to learn, but at some point you need let go and focus on your own abilities.
Hey, thanks for sharing your thoughts on copy trading! I totally get what you're saying about the risks of relying too much on copying other traders. It's definitely important to develop your own skills and knowledge so you can make smart decisions. But, I also think that copy trading can be a helpful way for newbies to learn about trading and get a feel for different strategies. As long as you're careful and use it as a supplement to your own education, it can be a useful tool. Of course, like with any investment, you gotta do your homework and be aware of the risks involved.
 

jelousgal

Banned
May 3, 2023
37
9
14
29
That's a great point. Copy trading can be risky for inexperienced traders, as blindly copying other traders without fully understanding their trading strategies and risk management approach can lead to significant losses. It's important to do your due diligence and research the trader you're considering copying, including their trading history and performance record. Additionally, you should have a clear understanding of the risks involved and be prepared to lose money. Copy trading can be a useful tool for learning and growing as a trader, but it's important to approach it with caution and a healthy dose of skepticism
 
May 13, 2023
116
14
24
40
A friend of mine asked me for copy trading, what is your idea?
I know that one issue is the risk of blindly copying other traders without fully understanding their trading strategy or risk management approach. Even experienced traders can experience losses, and copying their trades can lead to significant losses for the follower. Additionally, some traders may manipulate their trades or performance records to appear more successful than they actually are, which can lead to poor investment decisions for followers.
Copy trading is not my type. It might seem easier to copy the techniques of some experts, but there are some downsides to it. First of all, you're risking your hard-earned money without having any real control over them. Furthermore you are not really learning anything by just following someone else's trades. It's like taking the easy way out without putting in the effort to understand the market yourself. So my advise would be staying away from copy trading and adopting a more active investing style.
 

jelousgal

Banned
May 3, 2023
37
9
14
29
I, for one, am not a supporter of copy trading. because relying just on copy trading will prevent you from developing good trading abilities and expertise. You might be able to utilize it to learn, but at some point you need let go and focus on your own abilities.
Disagree. Copy trading can be a valuable learning tool, but it's important to transition and focus on developing your own trading abilities and expertise
 
  • 👍
Reactions: Oli_jackson

Oli_jackson

Trader
Mar 27, 2023
92
11
19
45
Copy trading is not my type. It might seem easier to copy the techniques of some experts, but there are some downsides to it. First of all, you're risking your hard-earned money without having any real control over them. Furthermore you are not really learning anything by just following someone else's trades. It's like taking the easy way out without putting in the effort to understand the market yourself. So my advise would be staying away from copy trading and adopting a more active investing style.
I like what you're saying. I prefer autonomy in trading, and not copying others. Beside all of these, by copy trading you lose a grate learning opportunity.
 
  • 👍
Reactions: ArnavDeshmukh

AlexOZ

Trader
Apr 22, 2023
59
9
14
72
Copy trading can be a tempting option for those looking to get into trading without fully understanding the markets or strategies involved. However, as you mentioned, there are risks involved with blindly copying other traders. It's important to thoroughly research and understand the trader's strategy and risk management approach before copying their trades.

Additionally, it's important to recognize that even experienced traders can experience losses, and past performance is not always indicative of future results. Followers should carefully monitor their accounts and be prepared to cut their losses if necessary.

Overall, copy trading can be a useful tool for those looking to learn from others, but it's important to approach it with caution and a thorough understanding of the risks involved.
I wonder where the balance lies between doing enough research (strategies, risk management) to check potential traders and learning enough of that to do your own trades
 

Oli_jackson

Trader
Mar 27, 2023
92
11
19
45
I wonder where the balance lies between doing enough research (strategies, risk management) to check potential traders and learning enough of that to do your own trades
That is both an excellent and difficult question. Personally, I believe that after a while, even if you believe you need more knowledge, you should take action rather than merely research. and about the time, it is totally personal.
 

AlexOZ

Trader
Apr 22, 2023
59
9
14
72
That is both an excellent and difficult question. Personally, I believe that after a while, even if you believe you need more knowledge, you should take action rather than merely research. and about the time, it is totally personal.
Agree totally. My motivation is not simply to make money but to master a process with all its wins and losses. Trading for me is part-time but I still treat it as a business (I'm a self-employed software developer for many years) with losses being the cost of doing business. So copy trading has little appeal unless it was more of a genuine mentoring exercise rather simply trying to understand other trader's logic. And, to be honest, I'm probably too much of a loner to want mentoring either ha ha.
 

Ara

Trader
Apr 24, 2023
112
19
19
34
Disagree. Copy trading can be a valuable learning tool, but it's important to transition and focus on developing your own trading abilities and expertise
I respectfully disagree, as copy trading may not always be a reliable learning tool.